Third Quarter 2022 Earnings Forecast for Tsakos Energy Navigation Limited Released by Jefferies Financial Group (NYSE:TNP)
Tsakos Energy Navigation Limited (NYSE:TNP – Get Rating) – Equity research analysts at Jefferies Financial Group released their third quarter 2022 earnings per share estimates for Tsakos Energy Navigation shares in a research note released on Thursday, September 15. Jefferies Financial Group analyst O. Nokta expects the shipping company to post earnings of $2.29 per share for the quarter. Jefferies Financial Group has a “Buy” rating and a price target of $25.00 on the stock. The consensus estimate for Tsakos Energy Navigation’s current annual earnings is $5.36 per share. Jefferies Financial Group also released estimates for Tsakos Energy Navigation Q4 2022 earnings at $2.49 EPS, FY2022 earnings at $5.97 EPS, FY2023 earnings at $10.49 EPS and FY2024 earnings at $10.49 EPS. $13.46 EPS.
Separately, StockNews.com upgraded shares of Tsakos Energy Navigation from a “sell” rating to a “hold” rating in a Friday, July 1 report.
Tsakos Energy Navigation is trading down 3.3%
NYSE TNP opened at $17.90 on Monday. The stock’s 50-day simple moving average is $13.84 and its two-hundred-day simple moving average is $11.55. The company has a quick ratio of 0.65, a current ratio of 0.72 and a debt ratio of 0.94. The company has a market capitalization of $325.71 million, a price-earnings ratio of -3.21 and a beta of 0.08. Tsakos Energy Navigation has a 12-month low of $6.95 and a 12-month high of $18.85.
Tsakos Energy Navigation (NYSE:TNP – Get Rating) last released quarterly earnings data on Wednesday, September 14. The shipping company reported EPS of $1.31 for the quarter, missing the consensus estimate of $1.53 per ($0.22). Tsakos Energy Navigation recorded a positive return on equity of 0.88% and a negative net margin of 11.80%. During the same period of the previous year, the company made ($1.18) earnings per share.
Institutional investors weigh in on Tsakos Energy Navigation
Several large investors have recently changed their positions in TNP. Engineers Gate Manager LP bought a new position in Tsakos Energy Navigation in the first quarter, valued at around $108,000. Walleye Capital LLC bought a new stake in shares of Tsakos Energy Navigation in the second quarter at a value of $147,000. UBS Group AG increased its stake in Tsakos Energy Navigation shares by 157.2% during the first quarter. UBS Group AG now owns 18,109 shares of the shipping company valued at $158,000 after buying an additional 11,067 shares in the last quarter. Bank of America Corp DE increased its position in Tsakos Energy Navigation by 167.2% in the 1st quarter. Bank of America Corp DE now owns 20,460 shares of the shipping company valued at $180,000 after acquiring an additional 12,804 shares last quarter. Finally, Vontobel Holding Ltd. bought a new stock position in Tsakos Energy Navigation during the second quarter worth approximately $184,000. Institutional investors hold 32.50% of the company’s shares.
Tsakos Energy Navigation cuts its dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 20. Investors of record on Thursday, July 14 received a dividend of $0.10 per share. This represents a dividend of $0.40 on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Wednesday, July 13. Tsakos Energy Navigation’s dividend payout rate is currently -3.58%.
Tsakos Energy Navigation Company Profile
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Tsakos Energy Navigation Limited provides crude oil and petroleum product shipping services worldwide. The company provides ocean transportation services for national, major and independent oil companies and refiners on long, medium and short term charters. As of April 21, 2022, it operated a fleet of 66 double-hulled vessels, including 60 conventional tankers, three LNG carriers and three Suezmax DP2 shuttles.
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